Hepsor to start construction of 13-storey residential building ‘360° Dzelzavas Residences’ in Purvciems, Riga
On 19 June 2025, Hepsor Latvia OÜ, a subsidiary of Hepsor AS, and INTH Vara OÜ (hereinafter Perton) signed a shareholder agreement to start the construction of a 13-storey residential building at Dzelzavas iela 74C, in Riga.
According to the shareholder agreement, Hepsor Latvia OÜ will acquire a 50% stake in Laba māja centrā SIA (new name Hepsor Dz74c SIA), for which Perton will be paid EUR 174,000. The total investment in the project is around EUR 15 million.
The planned residential building will be a 13-storey apartment building with modern architecture and an energy efficiency class of A+. The building will have 103 apartments, ranging in size from 38 to 125 m². A total of 12 apartments have been booked prior to the start of construction.
The building will have 76 parking spaces along with electric car charging infrastructure, 54 storage spaces, separate storage for bicycles and prams, children’s playgrounds and an exercise field, aesthetically designed landscaping, and a shared roof terrace offering 360-degree panoramic views of Riga. More detailed information: https://dzresidence.lv
Hepsor Latvia country manager Martti Krass: ‘Purvciems is home to around 52,000 people, making it the most densely populated area in Riga. This area has significant development potential as it combines the three core values of a pleasant everyday life: convenience, affordability and accessibility. Thanks to its excellent infrastructure and proximity to essential services and institutions, it is the ideal living environment for families, young professionals and the elderly.’
Hepsor has developed around 400 apartments in Latvia, 95% of which have been sold. A further 262 apartments will be completed in the coming years.
Henri Laks
Member of the management board
Tel: +372 5693 9114
E-mail: henri@hepsor.ee
Hepsor AS (www.hepsor.ee) is a developer of residential and commercial real estate. The Group operates in Estonia, Latvia and Canada. In fourteen years of operation, we have created 2 076 homes and nearly 36 300 m2 of commercial space. Hepsor is the first developer in the Baltic States to implement a number of innovative engineering solutions that will make the buildings it builds more energy efficient and thus more environmentally friendly. The company has a portfolio of 25 development projects with a total area of 172 800 m2.
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